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Wednesday, October 17, 2018

Valued Friends and Clients!

Fall has finally arrived in the desert and with it, the end of triple digit temperatures. At mid-October we are experiencing very enjoyable warm days and cooler evenings. Nice not to have the AC running 24 hours a day! The over-seeding of all the golf courses and grass areas in the Coachella Valley is underway, preparing for another desert winter.

Most local golf clubs and courses are scheduling their openings for the second weekend in November this year, which is when our real estate 'busy' season starts to ramp up. This is also when our winter residents start returning to their desert homes, and a large number of visitors start arriving as well. This is also when the colder weather arrives in the northern states and Canada, sending more people our way.

The high-end real estate market in the desert has been very active over the summer. During the 3rd Quarter there were 116 homes sold above $1 Million across the Coachella Valley. This was up from 107 sales in the 3rd Quarter last year. 30 of these homes were above $2 Million, a big jump from 20 last year. 7 homes sold above $3 Million, with the top sale price being a $12 Million home sold at The Madison Club in La Quinta.

Where were the 116 homes that sold above $1 Million in the 3rd Quarter located? La Quinta had the most sales with 35, Palm Springs was next with 34, Rancho Mirage had 19 sales, Indian Wells had 15 and Palm Desert had 13 homes that sold above $1 Million.

In the $500,000 to $1 Million price range across the valley, sales were up 12% in the 3rd Quarter, with 402 sales, compared to 358 sales last year. We have been seeing the numbers of homes sold in the higher price ranges increasing over the past several years, but we have not seen much improvement in sales prices. As is usually the case, those homes that have been updated recently and those homes with the best views and locations, do sell quicker and for better prices.

This month we have included the following items you might find interesting:

  • Blomgren & Blomgren's Featured Home of the Month: 74195 Desert Oasis Trail, Indian Wells. This custom contemporary home is located at The Reserve Club, and offers dramatic south mountain views across the golf course & lake. View this home...
  • The most expensive home sold so far this year is an 11,000 square foot home at the Madison Club in La Quinta that sold in August. Variety reports that the buyer is Kris Jenner. Read the article...
  • From Realtor.com this article talks about home inspections and what to expect when the inspection is complete and the report is issued. Read the article...
  • While most people are still trying to figure out how the new tax law will affect home sales, this Barrons.com article talks about how it is a boon for Real Estate Investment Trusts (REITs). Read the article...
  • October is Fire Prevention Month. This article from First Alert offers some tips on fire safety around your home. Read the article...
  • The 10 Most Expensive Homes Sold in September, 2018, as reported by the California Desert Area MLS: These sales range from $1,762,500 for a home in The Mesa area of Palm Springs, to $3,000,000 for a home in Old Las Palmas, Palm Springs. Homes at The Vintage Club, Toscana Country Club and Thunderbird Heights are also included. See the complete list...

If you or someone you know is thinking of selling or buying a home in the desert, now is a good time to get started. With 50+ combined years of local desert experience, we know the market extremely well. Give us a call if we can be of any help.

Sincerely,

Bruce (760) 333-7653
Keith (760) 333-3350

Blomgren & Blomgren
Luxury Desert Real Estate

 
 
 
 
 
 
 
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Featured Home of the Month
 
 
74195 Desert Oasis
The Reserve Club
Indian Wells
Offered at: $3,700,000 Furnished
 

This Contemporary home is situated on one of the premier interior home sites at The Reserve Club. Enjoy beautiful south mountain views across a lake and the 14th Fairway from indoors and outdoors. Enter into a large, lushly landscaped courtyard leading to a glass entry door. Designed by the award winning architectural firm Prest-Vuksic, who created this very bright and open great room plan. Disappearing glass doors add to the openness and provide wonderful indoor/outdoor living. A gourmet kitchen opens to the great room and features top quality appliances. The plan offers a luxurious master suite, with 2 guest bedrooms suites on the opposite side of the home. Your guests will enjoy the spacious, detached casita with bedroom & living room. Don't miss the 3-car garage with AC. On a private cul-de-sac just a short golf cart ride from the newly updated Clubhouse and Village amenities.

Please call for a private showing: (760) 779-1653,

 
 
 
 
 
 
Featured Articles
 
 
 

Kris Jenner Picks Up Ultra-Modern Desert Mansion

Mark David - Variety, September 24, 2018

The most expensive home sold so far this year is an 11,000 square foot home at the Madison Club in La Quinta that sold in August. Variety reports that the buyer is Kris Jenner.

 
 
 

Home Inspection's Complete? Here's What You Must Ask Afterward

Audrey Ference - Realtor.com, October 9, 2018


From Realtor.com this article talks about home inspections and what to expect when the inspection is complete and the report is issued.

 
 
 

New Tax Plan Is Boon for REITs

Karen Hube - Barrons, September 27, 2018


While most people are still trying to figure out how the new tax law will affect home sales, this Barrons.com article talks about how it is a boon for Real Estate Investment Trusts (REITs).

 
 
 

Fire Prevention Month 2018

First Alert


October is Fire Prevention Month. This article from First Alert offers some tips on fire safety around your home.

 
 
 

The 10 Most Expensive Homes Sold in September 2018 as reported by the California Desert Area MLS:

California Desert MLS


The 10 Most Expensive Homes Sold in September, 2018, as reported by the California Desert Area MLS: These sales range from $1,762,500 for a home in The Mesa area of Palm Springs, to $3,000,000 for a home in Old Las Palmas, Palm Springs. Homes at The Vintage Club, Toscana Country Club and Thunderbird Heights are also included.

 
 
 
 
New Listings
 
73912 Desert Garden Trail The Reserve, IW $2,099,000F Too new for Photos
74195 Desert Oasis The Reserve, IW $3,700,000F
78631 Deacon Drive E. Tradition Golf C $2,139,000
 
 
Recent Sales
 
70375 Thunderbird Rd Thunderbird Heights $2,750,000
41 Cassis Circle Escala, RM $1,300,000
16 Sapphire Lane Revelle at Clancy Ln, RM $1,250,000 New Construction
50674 Desert Arroyo (Lot) The Reserve, IW $750,000
512 Red Arrow Trail Indian Ridge, PD $515,000
44835 Winged Foot Drive Desert Horizons CC,IW $499,000F
 
 
 
 
Bruce (760) 779-1653    Keith (760) 333-3350